10:13 AM EDT, 06/26/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Tecnoglass ( TGLS ) shares were up nearly 21% in recent Wednesday trading after the company said late Tuesday its board launched a review of the company's strategic alternatives.

There's no deadline or a definitive timetable set for completion of the review process, the company said, adding there's no assurance it will result in the company seeking a transaction or any other particular outcome.

Tecnoglass ( TGLS ) also said it continues to expect full-year revenue of $875 million. Analysts polled by Capital IQ expect $875.1 million.

Price: 49.57, Change: +8.54, Percent Change: +20.81